Question
Soham invested Rs. 32,000 partly in schemes ‘I’ and ‘J’ for 4 years and 6 years, respectively. Scheme ‘I’ offers simple interest at 18% per annum, while scheme ‘J’ gives compound interest (compounded annually) at 22% per annum. Find the investment in scheme ‘J’ if the interest from ‘I’ is Rs. 2,880 more than that from ‘J’.
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